Here’s a hat tip to the McClain boys for a great first quarter. Wish I could be in OKC this week for the shareholder’s meeting to give a “hip-hip-hurray” in person. Looks like some Arkansas gas wells clapped out, but nice increase in oil volumes. Healthy boost in oil and gas prices received.
There’s not a shred of pretense here. A simple, but strong balance sheet, with liquidity held largely in U.S. Treasuries. No dilutive executive stock options. No futures hedging. They are buying in stock for $180 / share again. Let the others chase the speculative offshore and shale plays. I’m happy right here.